PerkinElmer, Inc. (NYSE:PKI) Shares Bought by DnB Asset Management AS

DnB Asset Management AS boosted its stake in shares of PerkinElmer, Inc. (NYSE:PKIGet Rating) by 8.7% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 25,482 shares of the medical research company’s stock after acquiring an additional 2,033 shares during the period. DnB Asset Management AS’s holdings in PerkinElmer were worth $3,624,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Moody National Bank Trust Division purchased a new stake in shares of PerkinElmer during the second quarter worth $208,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of PerkinElmer by 14.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,704 shares of the medical research company’s stock worth $5,008,000 after buying an additional 3,595 shares in the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of PerkinElmer by 3.2% during the first quarter. Paradigm Capital Management Inc. NY now owns 84,350 shares of the medical research company’s stock worth $14,716,000 after buying an additional 2,600 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of PerkinElmer by 3.7% during the first quarter. The Manufacturers Life Insurance Company now owns 898,929 shares of the medical research company’s stock worth $157,015,000 after buying an additional 31,819 shares in the last quarter. Finally, Toroso Investments LLC grew its holdings in shares of PerkinElmer by 11.7% during the first quarter. Toroso Investments LLC now owns 2,186 shares of the medical research company’s stock worth $381,000 after buying an additional 229 shares in the last quarter. 77.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PKI has been the subject of a number of research reports. Bank of America lowered shares of PerkinElmer from a “buy” rating to a “neutral” rating and set a $178.00 target price for the company. in a report on Tuesday, August 2nd. Credit Suisse Group began coverage on shares of PerkinElmer in a report on Wednesday, August 24th. They issued a “neutral” rating and a $175.00 price objective for the company. UBS Group began coverage on shares of PerkinElmer in a report on Wednesday, July 20th. They issued a “buy” rating and a $160.00 price objective for the company. Stifel Nicolaus lowered shares of PerkinElmer from a “buy” rating to a “hold” rating and dropped their price objective for the company from $190.00 to $170.00 in a report on Thursday, August 18th. Finally, Robert W. Baird upped their price objective on shares of PerkinElmer from $198.00 to $202.00 and gave the company an “outperform” rating in a report on Tuesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $162.50.

Insider Transactions at PerkinElmer

In other news, insider Andrew Okun sold 3,173 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the sale, the insider now owns 6,391 shares of the company’s stock, valued at $1,057,199.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Daniel R. Tereau sold 5,700 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $145.14, for a total value of $827,298.00. Following the sale, the insider now owns 13,380 shares of the company’s stock, valued at $1,941,973.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Okun sold 3,173 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $165.42, for a total transaction of $524,877.66. Following the completion of the sale, the insider now directly owns 6,391 shares in the company, valued at approximately $1,057,199.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 13,898 shares of company stock valued at $2,083,263. 0.52% of the stock is currently owned by corporate insiders.

PerkinElmer Trading Up 0.1 %

Shares of PKI stock opened at $130.31 on Tuesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.02 and a quick ratio of 1.42. The firm has a market cap of $16.45 billion, a PE ratio of 24.40, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14. The company has a 50-day moving average of $143.72 and a two-hundred day moving average of $151.07. PerkinElmer, Inc. has a 1-year low of $126.80 and a 1-year high of $203.16.

PerkinElmer (NYSE:PKIGet Rating) last announced its earnings results on Monday, August 1st. The medical research company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.31. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.20 billion. PerkinElmer had a net margin of 13.21% and a return on equity of 16.68%. PerkinElmer’s revenue was up .1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.83 earnings per share. On average, analysts predict that PerkinElmer, Inc. will post 7.83 EPS for the current year.

PerkinElmer Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 11th. Stockholders of record on Friday, October 21st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, October 20th. This represents a $0.28 annualized dividend and a dividend yield of 0.21%. PerkinElmer’s dividend payout ratio is presently 5.24%.

PerkinElmer Company Profile

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PerkinElmer, Inc provides products, services, and solutions to the diagnostics, life sciences, and applied services markets worldwide. It operates through two segments, Discovery & Analytical Solutions and Diagnostics. The Discovery & Analytical Solutions segment offers a suite of solutions, including reagents, informatics, and detection and imaging technologies that enable scientists to enhance research breakthroughs in the life sciences research market, as well as contract research and laboratory services.

See Also

Institutional Ownership by Quarter for PerkinElmer (NYSE:PKI)

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